Shocking Truth: Gov’t Still Owes $700 Million Energy Debt - Agonaman Media
Connect with us

Politics

Shocking Truth: Gov’t Still Owes $700 Million Energy Debt

Published

on

A startling report from JoyNews Research has exposed a massive $707 million gap in the government’s energy sector debt claims. While official narratives suggest the crisis is largely over, fresh data indicates Independent Power Producers (IPPs) are still owed huge sums. The government previously claimed it settled $1.47 billion in energy debt during the 2025 fiscal year. This figure included a $393 million payment specifically directed toward legacy debts owed to various power companies.

However, Finance Minister Dr. Cassiel Ato Forson presented a different perspective during the 2026 Budget reading in Parliament. He revealed that the current administration inherited roughly $1.4 billion in legacy debt from previous years. Through intense renegotiations and burden-sharing, the government secured write-offs totaling $250 million. The remaining $1.1 billion was then restructured to be paid over a four-year period ending in 2028.

Despite these restructuring efforts, JoyNews Research confirms that a substantial balance remains on the books. After accounting for all payments made in 2025, the outstanding obligation to IPPs stands at $707 million. This revelation contradicts the impression that the “take-or-pay” debt albatross has been completely removed. Critics argue that the pace of repayment must increase to prevent future power stability risks.

To address the shortfall, the government has programmed $345 million for IPP payments in the 2026 budget. These funds are intended to keep the nation current on its restructured obligations while avoiding new arrears. The Ministry of Finance insists that the era of uncontrolled debt accumulation is officially over. Nonetheless, the energy sector remains under heavy scrutiny as stakeholders watch for the next round of payments.

AGONAMAN MEDIA

Thanks for reading!

Supporting local news matters. Share this story or send news tips to our newsroom.

WHATSAPP TIP

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

‘We’ll All Benefit, But Ghana Comes First — Asiedu Nketiah To NDC Members

Published

on

The National Chairman of the National Democratic Congress, Johnson Asiedu Nketiah, has urged party supporters to prioritise national development over personal expectations following the NDC’s return to power.

He made the remarks while addressing party supporters at Salaga in the Savannah Region during the party’s thank-you tour.

According to him, although some members believe they are yet to directly benefit from the administration of President John Dramani Mahama, the focus should remain on improving the country for the benefit of all citizens.

“We hear everybody saying Mahama has done well and that his government is doing well, making us comfortable little by little. But when you speak to NDC members, they say Mahama is doing well, yet party members are not benefiting,” he stated.

Mr. Asiedu Nketiah stressed that the NDC never campaigned on promises of personal enrichment for party faithful after winning power.

“We did not say that when people vote for us and we come to power, regardless of whether the country becomes better or not, we would only better ourselves. We did not say that, otherwise nobody would have voted for us,” he explained.

He further appealed to supporters to remain patient and continue backing government efforts, insisting that national progress must come first even as individuals may eventually benefit.

“So let us put the country first, and no matter what, we will also benefit. Let us stop such sayings because we will definitely benefit,” he added.

His comments come amid growing conversations within political circles over expectations of party supporters following electoral victories

AGONAMAN MEDIA

Thanks for reading!

Supporting local news matters. Share this story or send news tips to our newsroom.

WHATSAPP TIP

Continue Reading

Politics

Be patient; we are barely two years in office—John Jinapor to aggrieved NDC supporters

Published

on

John Abdulai Jinapor has appealed to aggrieved supporters of the National Democratic Congress to exercise patience and avoid violence while demanding jobs and business opportunities from the government.

According to the Energy Minister, although the concerns of party supporters are understandable, resorting to violence could negatively affect the fortunes of the party and potentially push it back into opposition.

Speaking during the National Chairman of the NDC’s tour of the Savannah Region, Jinapor acknowledged the expectations of party members following the NDC’s return to power.

“I will plead with you to be patient with the government. We are barely two years in office. We know you need jobs, we know you need businesses,” he stated.

He further cautioned supporters against using aggressive methods to press their demands, stressing that opportunities would gradually be shared among members.

“If we are sharing while in office it is just a matter of time, everybody will get some but when we use violence and it lands the party in opposition, it will be our loss,” he added.

His comments come amid growing pressure from some party faithful seeking appointments, contracts, and employment opportunities under the current administration.

The remarks have since sparked discussions about expectations within political parties and the balance between loyalty, governance, and national development

AGONAMAN MEDIA

Thanks for reading!

Supporting local news matters. Share this story or send news tips to our newsroom.

WHATSAPP TIP

Continue Reading

Politics

NPP’s Kwasi Kwarteng Criticises Nana Aba Anamoah Over Defence of Mahama’s Private Jet Use

Published

on

Kwasi Kwarteng, a member of the New Patriotic Party (NPP), has publicly criticised renowned media personality Nana Aba Anamoah over her recent comments defending President John Dramani Mahama’s utilisation of a private jet belonging to his brother, Ibrahim Mahama. The controversy erupted after Nana Aba argued that it was practical and reasonable for the president to make use of his relative’s luxury asset, drawing a parallel to borrowing a brother’s Rolls-Royce if one were available. Her remarks were intended to support the president’s choice amidst ongoing public discourse regarding the use of private aircraft by public officials.

However, Kwarteng swiftly dismissed her reasoning in a reaction shared on social media, accusing her of shifting her stance based on political convenience. He mocked the analogy, suggesting that if her logic were to be accepted, it could justify the president operating out of his brother’s office, relying on private security, or even circumventing state resources entirely. Kwarteng argued that such a perspective raises serious concerns about consistency, warning that future leaders might be compelled to depend solely on whatever assets their relatives possess, thereby blurring the lines between private privilege and public duty.

In his concluding remarks, Kwarteng described Nana Aba as opportunistic, asserting that her views appear to change with the tide of political power. He implied that her support for Mahama in this instance was a departure from principles she may have upheld under previous administrations, cynically noting that she only aligns herself “where the food is.” The exchange has since ignited further debate on social media about the role of public figures in political discourse and the standards to which leaders should be held regarding the use of state versus private resources.

AGONAMAN MEDIA

Thanks for reading!

Supporting local news matters. Share this story or send news tips to our newsroom.

WHATSAPP TIP

Continue Reading

Trending Now





slot gacor hari ini

link slot gacor

slot online

mimislot

mimislot link

Informasi Slot Gacor

akses mimislot

https://www.cicgogo.com/contact-us

slot gacor

mimislot

mimislot

mimislot

slot gacor

slot

MIMI GAMES

GameGear

Mimi Sport News

Gadget Eye

mimi criminal news

Block Trend

polishingtiles.com

MIMISLOT SLOT GACOR MENARIK

TRAVEL SOLUTION

VisiMuda

www.westportcentral.com

www.drygmt.com

slot gacor

tempat pola gacor tersembunyi

Validasi Berita

Pantau Info

Kilas Opini

slot gacor hari ini

DEWISLOT77

TAXI4D

slot853

ICASLOT

mimislot

babaslot